Back to Main

Consumers Sectors Mixed; PetSmart Barks Up New 52-Week High After Boosting Dividend, Stock Buyback

By: MT Newswires
Posted: 9/27/2013 1:32:00 PM
Referenced Stocks: PETM

Top Consumer Stocks

WMT -0.42%

MCD -1.04%

DIS +0.28%

CVS -0.37%

KO -1.16%

Consumer stocks are mixed this afternoon, with shares of consumer staples companies in the S&P 500 sinking nearly 0.6%. Shares of consumer discretionary firms in the S&P 500 are ahead about 0.2%.

In company news, PetSmart Inc. ( PETM ) are up 1.5% at $75.69 a share, earlier rising to a new 52-week high of $75.82 after late Thursday announcing an 18% increase in its quarterly dividend to $0.195 per share. The dividend is payable Nov. 15 to shareholders of record on Nov. 1.

The company also said its board has approved a $535-million stock buyback program running through Jan. 31, 2015.

In other sector news,

(+) NKE, (+5.3%) Reports Q1 net income of $0.86 per share, beating analyst estimates by $0.08 per share. Revenue rose 7.7% year over year to $6.97, matching Street view.

(-) JCP, (-10.1%) Department store retailer falls to new 52-week low after selling 84 mln shares of its common stock at $9.52 each. The offering generated just under $800 mln in gross proceeds for general corporate purposes.